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Entrepreneurship Development Ordinance

Entrepreneurship Development Ordinance

24.11.2017 | 12:01

On 23 November Belarus President Alexander Lukashenko signed Ordinance No.7 “On entrepreneurship development”, which is the key document in the package of regulations designed to improve the country's business climate.

Main novelties:

1. Declarative business registration.

In order to start such a business, a private entrepreneur will have to notify the local executive body using the one-stop principle. The notification can be sent by registered mail or via the digital services web portal. The entrepreneur will be authorized to pursue the chosen activity starting the next day.

2. Simplified fire safety requirements, sanitary, epidemiological requirements.

3. The decree scraps the administrative barriers based on complicated and lengthy bureaucratic procedures, a large number of certificates, approvals, and permit documents.

4. Higher business responsibility

The decree will introduce the administrative responsibility of the company head for the smooth operation of the enterprise. In particular, if the executive fails to take measures to prevent harmful consequences, he or she will pay a fine of 10-200 base amounts, provided the failure is not classified as a crime or an administrative offense.

Source: The Entrepreneurship Development Decree